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, along with my partner tyler mathisen. john harwood and eamon javers are in washington as we countdown to the president's statement in a few minutes. we're hearing that the white house has invited congressional leaders for a meeting at the white house next week on the fiscal cliff. that seems to mean, john, to me anyway, a little bit of progress. what type of tone do you expect, john, the president to take in this next address? >> sue, i expect him to be conciliatory and reaching out to republicans the way john boehner has tried to strike that mode on capitol hill. two different white house specialists just told me the president will walk out here and announce he's invited the bipartisan leadership of congress to the white house next week to begin talks on the fiscal cliff. i have to think there is a possibility that they can really make some headway, if not solve the problem before the end of the year. at least get started on a solution when you have john boehner talking about raising revenue, not just revenue from growth but revenue from actually raising more money from people at the
cliff mess. let's give peace a chance. >> cnbc's chief washington correspondent john harwood joins us now with the details. good evening, john. >> reporter: good evening, larry. the white house threat toned veto any legislation extending those top-level bush tax rates. we've got to look closer at two the two principal negotiator his to say today because there were signs of conciliation and first there was john boehner drawing the line not against tax increases, but increases in tax rates. >> listen, the problem with raising tax rates on the wealthiest americans is that more than half of them are small business owners. we know from ernst & young 700,000 jobs would be destroyed. we also know that it would slow down our economy. >> president obama from his part came into the east room. he also drew a line, but the line he drew was not insisting on higher tax rates but on higher tax revenues. >>> i'm not wedded to every detail of my plan. i'm open to compromise. i'm open to new ideas. i'm committed to solving our fiscal challenges, but i refuse to accept any approach that isn't balanced.
cisco's earnings? you'll hear those in a moment exclusively from john chambers. see you tomorrow. >>> it is 4:00 on wall street. do you know where your money? hi, everybody. welcome back to the "closing bell." i'm maria bartiromo at the new york stock exchange. the post-election hangover continues on wall street. here's a look at how we're settling out today. we're ending near the lows, in fact, at the lows. down 60 points on the dow industrial average. nasdaq composite, weaker by 20 points. technology one of the laggards here today at 2883. the s&p 500 tonight gave up five points at 1374. we are moments away from quarterly earn from cisco. the company is expected to report a profit for the first quarter of 46 cents a share and revenue of $11.77 billion. let's get to today's market action as we await the numbers. good to see everybody. thanks for joining us. carol, what are you expecting in 2013 under president obama's policies? >> i'm not expecting anything very good, maria. i think that we're going to end up with some sort of a slow down. i think whatever the compromise that en
invented, this man, right here, to keep our computers safe from virus. as we first reported yesterday, john mcafee is on the run in central america. he is wanted for murder. we have new information this hour, including his side of the story. >>> and tens of thousands of people are still without power in the 12 wealthiest counties in the country. my mere and father-in-law got theirs back last night, but they still have no heat, no hot water and no laundry. we sent gary gam minute ski into the mess in his home up to with two cameras and what he came back with will stun you. sue is live at the new york stock exchange. sue? >> i have seep a little bit of that ty, you don't want to miss gary's story in a few minutes much the markets have been up and down on either side unchanged today. right now the dow is in the green by 22 points, the s and p up about 2.75 points. nasdaq negative by a quarter percent. gold market, a little profit taking there, well up above the 1700 level. west texas intermediate crude down two-thirds of a percent. all of this as the count down to the fiscal cliff ticks away.
is joining me. we also have john buckingham of al frank asset management. thanks, everybody, for joining us. first, michelle, let me get your news, the latest on the attack out of israel on hamas. this, of course, another major news story today that we're following and the reason oil prices have spiked. >> the latest is the israelis have said there's going to be a lot more of what you've already seen. let's show you what's already happened. this video is incredible. it's released by the israeli defense forces. follow that car. what you'll see is not a car bomb. it is a targeted attack by the israeli air force. inside the military leader of hamas was directly targeted. this is operation pillar of defense. it was announced today on twitter by the israeli defense force. take a look at what the spokesperson posted on twitter. he said, we recommend no hamas operatives, whether low level or senior leaders show their face above ground in the days ahead. one of the reasons why oil spiked earlier. the israelis say this is in response to hundreds of rocket attacks coming into gaza over the last sever
secretary of state rich williamson and syndicated radio talk show host john boutzer. how much injury they inflict on hamas? i want to know if the total blowout is possible? >> yes, it is, larry. why that is critical is because egypt is involved profoundly in this problem. morici, the new le elely electe president of egypt, is in the muslim brothers. the muslim brothers and hamas are directly related. this is about egypt and the 1979 peace treaty. >> right. i'm going to get back to the whole issue of the spreading war. but i'm just real interested in the assessment, ambassador williamson, welcome back, that israel can just inflict massive, permanent damage on hamas and their alleged military. >> well, larry, first of all, i think it's really important to take a step back. we've been involved in a presidential election that sucked up the oxygen. hamas is a group that's recognized as a terrorist organization by the u.s. government, the israeli government and the european union, has increased shelling in areas of israel over recent weeks. they now have shelled tel aviv and 180 missiles w
and political breakthrough? then if president obama and john boehner can rise above and get a deal done for the fiscal cliff, there is a lot of money that could be made in stocks. and why shouldn't top military and business leaders maintain an honorable code of conduct? isn't it better to have a moral center? general david petraeus is a great man. but he made, unfortunately, a great mistake. first up, are we on the verge for american oil revolution? according to the international energy agency, the u.s. will overtake saudi arabia as the world's largest oil producer that before the year 2020. but -- don't get your hopes completely up as the epa could block this fantastic market-driven advance. nobody better to talk about it is john hofmeister. john, it is a pleasure to have you here. now, is it credible, first of all the report, we will overtake the saudis? >> report is credible. the iea is smart, good analysts. we have the reserves, no question we have the reserves. in the ground today. number two, we have the technology to get the reserves out of the ground. and number three, we have t
. fiscal cliff will obviously be one of the top topics this hour. brian sullivan, eamon javers, john harwood is working his way into the white house right now for that news conference. they are all gathered with me. brian, we're going to begin with you. >> this is a big day at the white house. this is a big week at the white house regarding the fiscal cliff, guys. and today, 12 top ceo are coming here to the white house to meet with the president, anything from walmart to duke energy to ursula burns of xerox and nine others. they will gather up, they will huddle up and exchange ideas to try to find a fix for the fiscal cliff. the question is, how much is the president willing to give on spending cuts, how much is the gop willing to perhaps give on tax increases and revenue enhancements, and what will the ceos say, ask and demand? eamon javers here also at the white house as we have full team coverage and he has got the ceo part of the story. >> brian, i think one of the key questions going into this ceo meeting as we wait their arrival on the north lawn of the white house is how do t
appearances tomorrow between speaker john boehner and president barack obama. the speaker will address a crowd of reporters at 11:00 in the morning. he will take questions from the press. we're told obama will speak at 1:00 in the east room of the white house and will not take questions from reporters. there will be an audience there, but he will not be taking questions. meanwhile, we're getting this report out today from the cbo, which is laying out the scenario of just how bad things would be if we go over the fiscal cliff. let me give you a couple of the key bullet points here. the cbo saying if we go over the cliff the gdp would drop by 0.5% in 2013. it could decline in the first half of the year, but then renewed growth later in the year. and the unemployment rate would rise to 9.1% if we go over the fiscal cliff, but ultimately the cbo saying unemployment would decline to 5.5% by 2018. so, larry, this sets the backdrop for the dueling appearances between boehner first then president obama later in the day. tomorrow the question is, can these two men come back to the deal they were doing
it needs to be. folks are going to hold the line and i will tell you why. look at how scripted john boehner had to be when he said revenue. where democrats fell out of their chairs. he had to do it with a t ee teleprompter. >> god bless him. raising tax rates is not the answer to this. >> but you know what, look. i know karen, other democrats believe they got this great mandate. but house republicans believe they got a mandate to put a check and balance on senate democrats as well as the president. so we are going to have to have a compromise for a change. >> we have a mandate and for president obama you would hope that he would start thinking now about what is his legacy and does he want to leave office with a terrible economy. i don't think in year eight he is going to be able to blame george bush. he ought to start thinking about economic growth. this is probably the least harmful way. > exit polls show that that george w. bush hurt romney tremendously. >> the polls are the polls. but the point i'm making in the second term, it is president obama's don mi aeconomy and def. he is going to
, maria means business. two major market movers, two exclusive interviews. don't miss cisco ceo john chaim bers and the nyse chief coming up at 4:00 p.m. only on the "closing bell." i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ but they haven't experienced extra strength bayer advanced aspirin. in fact, in a recent survey, 95% of people who tried it agreed that it relieved their headache fast. visit fastreliefchallenge.com today for a special trial offer. >>> welcome back. mitt romney may have lost the presidential election, but some democrats are warming to one of his key tax reform proposals. remember this? >> everybody gets -- i'll pick a number -- $25,000 in e ductided and credits. you can decide which ones to use. home mortgage interest deduction, childcare tax credit and so forth. you can use those in filling that bucket of deduction. >> robert frank looks at how a deduction bucket impact everything. >> the
posted better than expected first quarter reports. john chambers sounds a cautious but optimistic note about the u.s. economy. >> you're watching "worldwide exchange," bringing you business news from around the globe. >>> hello. welcome to today's "worldwide exchange". >> 40 unions in 23 countries. that's the strikes that are planned across europe today. so if you thought there couldn't be any coordination, there is coordination. >> how are we going to be affected? >> you know, air travel, surprisingly, they have had to have a lot of cancelling due to strikes. >> we're fully at our jobs. there's two hours of it today. let's remind you exactly what's coming up. we'll have updates from beijing throughout the program as the new generation takes the first step towards leadership. >> and we're in london. talk to the ceo of wpp, martin sorrel. >> we discuss japanese banks. >> and the latest on cisco from silicon valley as the network equipment maker warns of slowing growth this quarter and some falling demand in europe. >> more than 2,000 delegates have cast their votes for china's new centr
'll be joined throughout the day by a number of luminaries from the technology industry. i'll be talking to john donahoe, ceo of ebay. back to you. >> french laundry, that's the key tonight. french laundry. he's smiling like he's already been. meantime, a road map starts at cross section of wall street and washington. third weeks of losses as congressional office highlights difficulties if no fiscal cliff worked out. >> jcpenney shares on sale as it posts a much bigger loss and revenue miss. concerns mounting now about whether ceo ron johnson can right this ship. >> disney shares under pressure. casually optimistic about theme park business. >> groupon, one analyst slashing his down to one. >>> the worries the president and washington lawmakers will not agree on a deal to avoid the fiscal cliff. the cbo warns if an agreement is not struck by the end. year, the u.s. economy would head back into recession, contract by half a percent in 2013. president is scheduled to make remarks on the cliff at 1 p.m. time. speaker boehner will address us. can the president say anything to make this whole week lo
-founder of tea party 365. steve, did the president sound like he was ready to do business with speaker john boehner today or not? >> no. this was no olive branch, larry. i was quite disappointed with that speech and press conference. and you noted that the stock market really collapsed as president obama was speaking because he seems not just today but the event that he had on friday, the two statements that he's made, he's been pretty emphatic that he wants those tax rates to go up, come hell or high water. that is going to lead to a mexican standoff with the republicans if he sticks with that position. i'd like to make one other point about that press conference, larry. i listened to the whole 45 minutes to 60-minute press conference, and not once that i could hear in that speech did he talk about the most important thing, which is cutting government spending. why don't we get the government spending down and then talk about raising taxes? >> you know, if you google up spending and obama, you know what you get? nothing. blank pages. you get nothing. >> in fact, larry, he said he wants his
flock to johnson & johns johnson. >> you're comfortable with this drown grade. >> i am. if it settles above $70, i'll add to my position. >> "the result of a number of pipeline setbacks this year and competitive development shares have not done much over the past three months," up 1.2%. wha say here? >> another one i'm uncomfortably long on. the report said merck and gi-- not a huge buy, if they're having great success in this, somebody's got to suffer, probably bristol mire squiyer s. i'm like neutral on bmy but if it settles belon $31.47 i've had enough. >> uncomfortably long. thank you, jim. >>> the impending fiscal cliff is prompting the smart money to change course right now. we're not talking about buying and selling stock. we're talking about other kinds of protection and, no, that's not republicans and democrats in congress. though it might be -- tell you what sparked this race driver crash derby coming up. they were throwing tires. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping in
take my kids there, ever. they would laugh me out of the house faster than john travolta. i had no idea what was on sale, what wasn't on sale, what was on regular price. had no idea why i was in the store. but i did buy this nifty hat. because after all, i am a shopaholic. a bunch of dress shirts to the register, the prices seem really reasonable. they could be a steal, makeup on my shirts, throw them away all the time. i saw they were half polyester and only a small limited selection of actual cotton dress shirts in the whole store. sorry, no reason for being. here is the bottom line. jcpenney has been crushed. it doesn't make it a bargain other than this $22 hat was a real bargain. some things go down because they deserve to, which is why at $16 and change, penny's remains a sell, sell, sell. stay with cramer. >>> coming up, you're invited. the party is not over. cramer has found more stocks that have reason to celebrate. after delivering upside earnings surprises. this biotech name got a dull response to its report in october. but after wall street skipped out on its invite, there ma
. the stock down sharply today after reporting disappointing earnings moments ago. john fortt breaking down the numbers. 10.7 pv 10.7% lower. >> yeah, the stock traded up into the close. revenue fell short. $568.6 million versus $590 expected. eps flat, basically zero. 3 cents expected. guidance also disappointed. the mid point of guidance is higher than the $634 million analysts were expecting. the profitability, the eps, is short. if you look at gross billings, what they had last quarter was $1.29 billion. that's just money collected from groupons. this was down quarter over quarter, a problem they've had in the past. barely above flat year over year. 4-x impact had some effect on that. it's definitely something to watch. a big culprit here is europe. growth was up 1.3% versus 80% revenue wise for north america. that showing up as a big problem for them. also, operating cash and free cash flow both just above half of what they were last quarter. they're also spending money on capital expenditures. investors sure to have lots of questions about all that. >> all right, john. thank you so mu
extending tax cuts for those making more than $250,000 a year. our john harwood up next on ideology. for 30 some years at manytendet different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. >>> welcome back. want to get to bertha coombs right now. she has breaking news. >> maria, another ethics related resignation this afternoon. this time at lockheed mountain. the board there announcing they received a resignation from christopher, the incoming ceo. would be the ceo effective in january. they said they accepted his resignation after an ethics investigation confirmed he'd had a close personal relationship with a subordinate. meantime, marilyn houston will now be the new ceo effective january. >> all right, bertha. thanks very much. meanwhile, president obama playing the veto card today in early negotiations on solving the fiscal cliff. in fact, our chief washington corr
details on what john mkafee is tell cnbc. we'll look at the early movers. topping the list, anf. sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. >>> new details on software pioneer wanted for murder. john mcafee saying he is accused of something he didn't do. he's moving every four hours and he's fearful for his own safety. authorities are looking to question mcafee in the murder of a man found shot to death in his villa. they were neighbors on an island off the belize coast. you have met him and interviewed mcafee. >> i spent a good amount of time with john in 2009 doing a piece called "the bubble decade." he made a fortune during the early parts of the
. remember this morning john boehner came out and he said some fairly friendly things regarding negotiating the fiscal cliff. if the democrats say some of those things, too, this market is in a position now where it needs to be convinced by lawmakers that there's nothing to fear. they're far from that right now. that could happen. i just don't think it is going to any time in the next couple weeks. that's why i think 2.5 seems reasonable target. >> jim, thank you. jim iourio. >>> to a "market flash." bertha coombs joins us. >> one of the major loelders in krispy kreme has been selling off quite a bit of his stake. the largest holder in krispy kreme with over a 10% stake, we've seen a number of these filings coming through. they filed in september saying they'd reduce their stake by a million shares. but today a lot of these filings come across the tape, they are showing that -- putting some pressure on the tape. >>> you can rent to own a couch. you can rent to own a car. you can rent to own a house. i wonder how far. you can fix your credit rating at the same time. if that weren't enough, c
and slower revenue growth for the current quarter. john chambers sees europe getting worse before it gets better, but he says there are signs of improvement in the u.s. economy. >> we want to be the one company that both exceeds expectations and doesn't bring down guidance. so kind of a hint on terms of what we see. it really says we're in the right spots for growth. mobility, byod, the internet of everything, video, all growth areas in terms of opportunities going forward. and we think we're positioned pretty well. >> we've also got some facebook news this morning. toyota recalling nearly three million vehicles worldwide, that includes the prius. this is due to problems with the steering system. the announcement comes a month after toyota recalled more than seven million vehicles for faulty power window switches that are a potential fire hazard. mr. kernen, good morning. >> andrew, 20 seems to be what facebook is worth, kind of? >> well, it hasn't moved. >> but it kind of found its -- 38, i don't know. but things are worth something, even after you get the people that are really excited
of spending -- if it's combined with spending cuts, as well. all right. let's look at john boehner and see what he had to say. >> let's rise above the disif you think and do the right thing together for our country. >> apparently there are a run on these buttons, too. andrew asked how long do we have to wear these. and i said i got a tattoo. i don't think it's about -- it's right underneath here. >> i don't want to tell you where mine is. >> our says rise above. >> it's the design, too. we're not pushing either side, we're just saying, you know -- >> this is bad for the economy. >> no one like 7.9% unemployment. we don't want 8.9%. >> but the devil is definitely in the details. the former republican governor of michigan in charge of the ceo round table said the one thing boehner has to understand is that he's in the minority. you have two houses, the doesn't matter, but he said you can't say it's my way or the highway. but that's what john boehner seemed to offer. >> and the point was made in the journal, sure, you can put the house in a box and say you're not getting along and get the rat
's "closing bell" exchange, dan mcmahon from raymond james is going to join us. also, john from gfi group. our senior economics reporter, steve liesman, and our own rick santelli. john, it is clear that the fiscal cliff has wall street's full attention right now. do you expect a -- something to happen by december 31 or not? >> we expect something is going to happen. what that's going to be, we don't have the clarity we're expecting just yet. i think it's simple math. everybody knows what has to be done. obviously, we've had many, many studies over the course of the last few years that tell us what has to be done. so it is math. it's just about them getting in a room and hammering out the details. so we obviously need some revenue and some cuts across the board. i think it's how those are going play out in terms of what portion and how much is going to be what the market's really keying on. i think $4 trillion is basically the number that's kind of out there. i think if it comes in higher than that, it's going to be positive. if it doesn't, it's going to be a negative. >> so steve liesman, what
the ever looming fiscal cliff. u.s. house speaker john boehner said he'd pursue a deal with president obama that would include higher taxes under quote/unquote the right conditions to help reduce the country's looming fiscal cliff. and just when new york city thought it was all over, a nor'easter has smacked the tri-state area overnight. dumping inches of snow over some of hurricane sandy's hardest hit areas. wind and heavy snow have brought down power lines and electrical wires and thousands who lost power because of the last storm just lost it all over again. the storm brought the city to a virtual stand still last night. clean up crews have been working, though, to remove snow and clear the streets. we'll keep you posted on how that is doing as we look forward to the u.s. market opening today. coming up next, though, china's new leader will soon be revealed as the communist party's 18th national congress gets under way, but what does the transition mean for relations with europe? >>> hu jintao calls on china's next leaders to stamp out corruption and nir row the income gap as the communi
very much for having me. >> thank you. >>> still to come, rbc wealth management ceo john taft on why he thinks dividend stocks will protect your portfolio. >>> plus cftc commissioner bart chilton talks to us what needs to be done for the markets to open after a major disaster, something we saw after sandy. "squawk box" will be back right after this. >>> up next, spanning the sea with c-span, the ceo of the world's largest cargo leasing company talks global economic risk and outlook for the industry. that's next on "squawk box." >>> welcome back to "squawk box" this morning. take a look at futures. we have red arrows across the board, dow looks like it would open up 47 points higher, s&p off and nasdaq as well. >>> a continuation of the special shipping series, a ceo calls the container shipping market the ocean highway, jerry wang is co-ceo of seaspan corporation, one of the shipping leaders profiled in "dynasties of the sea" lori ann's new book. good morning, mr. wang. good to see you. >> good morning. good to hear from you. >> we've already had a little bit of conversation about this
minister calling john mca fee bonkers wondering why he's on the run inside the country when authorities want to talk to him about his murdered neighbor. we'll get his response. that's next. ♪ welcome to the world leader in derivatives. welcome to superderivatives. >>> belies's prime minister is urging john mcafee to help them with a murder investigation. robert frank has been following this bizarre story since it began. send it back to you at hq, robert. >> thanks, david. this is turning into the jungle man hunt that captured the world's attention. last night mcafee said police had arrested his body guard, his housekeeper and a taxi driver. mcafee is the founder of mcafee antivirus software once worth $100 million. he's wanted for questioning for the murder of his neighbor. police confirmed that they have arrested the body guard. they said other mcafee employees are being held and may be charged. mcafee told us this is all to coerce him to come to police. he had nothing to do with the murder and he fears the police are trying to kill him because i've been, quote, an outspoken critic o
sergeant johns who served in afghanistan. my beautiful wife, my tall son and his wife, melissa. >> great to have you here. welcome. of course the tribute so moving. two minutes. taps. what does veterans day signify to you. >> for am he three things. i was raised by a world war ii veteran. i had eight uncles in world war ii and taught me values of the united states and constitution and patriotism and need to serve your country. that's why i joined the marine corps. second thing is vietnam veterans. young officer raised me and taught me right things for war fighting so as i became a more senior rank, i knew what to do when i got into combat. a great job of doing that. the third thing and most important thing is marines that we have today. sergeant johns epitomizes. a year ago sergeant johns lost both legs in afghanistan. he's going to college. he has a plan. he's absolutely epitomized everything the marine corps stands for. thank you for your service. i would like a round of applause for this marine right now. [ applause ] >> very nice. actual birthday of the marine corps, the 10th. this g
it was interesting yesterday that john boehner came out and said, look, we want to do a deal, we want to reach across the aisle, get things done. the president as well called his republican counterparts. do you think there's room for compromise here? what do you think happens? >> i don't think i have nearly enough information to say whether there's room for compromise. if i look at actions in history, things that are tangible, i guess my answer would probably be no. do i have some hope? yes, but hope isn't quantifiable. what's quantifiable is today's 30-year bond auction. i'll tell you what. we can talk about europe. it was spectacular. look at the charts, what happened at 1:00. look at the fact that we're at the lowest yields in a couple months in the 30-year. the longest duration instrument, and everybody's racing for a number of reasons. this election definitely maybe was one on social issues, immigration issues, but on the business side, it is clear. things like dodd frank aren't even part of the fiscal live. those issues are going to remain. taxes most likely will be higher. i think the business
. let's go to john in texas. john? >> blue sky boo-yah, jim. >> i like that. i can use some blue skies. >> i know. no debt, big revenue growth. and a big new customer with walgreens. >> you know, we looked at greenway medical a couple years ago. i have not looked at it since which means i've got to do home work before i opine on it. it had disappointed us, to be honest. sounds like you have a new line on it and i have to do some work. i'm not current on greenway. all right. now just like when friends break up, you got to choose some sides. i say you choose abbott. after the break, i'll try to make you even more money. >> coming up, hot and fresh? wall street ordered up shares of popeyes owner today after earnings topped expectations. but is the stock as appetizing as it looks? cramer finds out when he speaks to the ceo exclusively after earnings. >>> and later, cash infusion? from syringes to surgery, medical supply company henry shine is in the heart of health care. as this sector settles into new reforms, should you make an appointment to buy. today cramer is going one-on-one with th
overboard when it comes to ceos being fired for having heat affairs. >>> shocking allegations. john mcafee, founder of the software company has been accused of murder in belize. stay with us on this story. ♪ [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the home office as well. because today it's about all of us. and no matter who you are, you're the commander-in-chief of your own life. ♪ you're the commander-in-chief of your own life. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. (car horn) paying with your smartphone instead of cash... (phone rings) that's a step forward. with chase quickpay, you
%. i need to go to john in florida. john? >> caller: boo-yah, jimmy from the beach in miami! >> man, everyone is in a better place than i am. >> caller: i know, jim. listen, mark west energy. i know they did an offering after the bell today. they got hit. what's going on? >> stephanie link, our research director and my best super forensic accountant, we're all bemoaning what a time for this deal to come? it is going to kill the stock. it's going to drive it to 7%. this group maybe didn't get mwe which we did like at $45. that's the level. nothing above it. and that, ladies and gentlemen, is the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade. >>> it's a brutal full contact sport. >> time the whistle blows, traders bracing for what could turn out to be a wild session. >> the last play of the game. >> markets absolutely getting hammered today. >> i know it's not easy. but i promise to keep fighting for you. >> jim cramer, leveling the playing field for all. >> the road is a tough one. but the payoff can be your greatest win of all. >> join "mad
the base, simplifying the code. >> both the president and john boehner, the speaker of the house, speak to be drawing lines in the sand. so this is why people are now becoming like senator simpson and sort of giving up a bit on a deal before year end. they're drawing lines in the sand over raising tax rates on the rich. i want you to listen to what they both said yesterday. listen to this. >> you've said that the wealthiest must pay more. would closing loopholes instead of raising rates for them satisfy you? >> i think there are loopholes that can be closed, and we should look at how we can make the process of deductions, the filing process easier, simpler, but when it comes to the top 2%, what i'm not going to do is to extend further a tax cut for folks who don't need it. >> the issue there is we are not going to hurt our economy and make job creation more difficult, which is exactly what that plan would do. there are ways to put revenue on the table without increasing tax rates. >> what's your reaction? >> i'm actually more hopeful than al is. >> you used to be more depressed. what's
.d.i.c. walked into all five branches at once. the chief executive, john saphir, was told that the bank that was his life's work was no longer his. we waited outside as they delivered the news to the employees. >> with heritage bank, your pay stopped at 6:00 p.m. at 6:01 you went on a pay which is paid by the f.d.i.c. unused vacation time, you will be paid for it. you will not lose it. >> in that moment, operation happy looked pretty grim. >> when we walk in, we appear to be the bad guy. >> i mean, some of those people had been there more than 20 years. >> and those are the ones who take it the hardest, because they feel that they have put their life into it and now it's no longer there. >> make sure that no one comes in without f.d.i.c. badges. >> the employees now work for the f.d.i.c. a public notice went up, and that was the signal to a team of nearly 80 people to take over the bank. they took control of the bank website and added a notice that all deposits were safe. then they started an inventory of all the assets and liabilities. what's happening right now? >> we're getting the b
think they've already agreed to that. you heard john boehner say that already. we've had voteses in the senate where we've gotten rid of tax credits. i think that's a given. and i think that the vast majority of measures agree with that. the question is how do you do that and how do you allow taxes to rise at the same time you fix the real problem and that's uncontrolled entitlement spending and a government that has grown massively. >> i think if the house stands for anything, it's cut government spending as tom coburn said and i think we'll have to do more of it. we heard the mandate in 2010 where it was a clear mandate cut spending and we did, we cut $900 billion in spending that he can't like painful tos us. >> we'll continue our call to rise bol politics and make a deal. oufr guests this morning include mike jackson and also david zaslav. and the head of maris group. and douglas holtz-eakin. >> let's talk about eurozone finance ministers meeting to discuss whether to release a new tranche of fund to go greece. the leaders are not expected it to okay the funding despite greec
results from walmart, target, both of these companies before the bell. john lawrence covers the sector for stevens. john, first of all, what can we expect from these two companies with the earnings coming out and what are you seeing with how americans are feeling as we head into the crucial retail season? >> certainly in the case of walmart i think we'll see that they're very bullish on what they've been able to do in the marketplace. some of the things that they've got planned for black friday, pretty aggressive. certainly the last several quarters, they're riding on a lot of good sales momentum because of these initiatives over the last couple year. i think we'll continue to see that. some of these ideas they put in place like the one hour guarantee for black friday and some of the announcements with -- at the end of the day, walmart when they're priced right, give that value to the customer and they're in stock, they do very well. and we continue to see that continuing. >> in terms of being priced right, is that a reflection of the sentiment of the nation right now just how consumer
obama and john boehner, the speaker of the house. which made me feel like maybe you don't have to be insane to believe you can get a positive resolution here. i'm a cynical guy but even i think the short sellers are being too glib and the longs are too terrified, given the facts on the ground. don't get me wrong. i'm not saying the fiscal cliff will definitely be bridged but things could go right. the democrats and republicans could work together, as crazy as that sounds, and you have to take that possibility of a positive into account. speaking of a fiscal cliff, we have to hear more beyond what we heard today. every minute that goes by without a deal is a minute that could drive us closer to the brink and it colors my whole show now. i'm more sane about bridging the cliff than i was yesterday. but as the son of a veteran, if we don't get a deal soon, i can have a recession gift wrapped by christmas. next week is a very important week for earnings and data. kind of surprising. money is all about home building. the home builders have been the lynch pin of the now forgotten rall
decline but i spoke to john at length on friday and it appears they have brought around their marketplace business in addition to continue strong growth at the paypal unit. it's difficult to do. when you come back to yahoo! you have to wonder how do they do it? >> is there an act two? cisco tonight almost every analyst on the street said they're going to miss. >> universal in both miss and then the guidance is going to be negative. david, when you spoke with stevenson, didn't you get the sense that the companies are done spending on anything other than amd on towers? >> they got to spend. you know, stevenson was very outspoken in saying fiscal cliff. we're not spending but we are. we're deciding to spend $14 billion over the next three years. they absolutely have to in order to compete with verizon and make sure that they're there in a real competitive position with verizon. >> cisco has a big business. governments are cutting back. john chambers did well getting deep with governments and now that's something that is not flourishing. we never thought that the government wouldn't just keep
twist program is due to expire at the end of the year. meanwhile san francisco fed president john williams says qe-3 will likely extend into the second half of next year. he says he expects unemployment to remain high for some time. he's optimistic the fiscal cliff will be resolved, but says if it isn't, there is little the fed can do to solve then the blow to the economy. just want to pick up here with michael. we've seen pretty dovish comments from john williams. and we've seen the evans rule talking about 3% inflation target. so even though everyone is talking about the better growth outlook, should we expect more stimulus from the fed? >> yes, i think you should. since the september meeting, it's been our expectation that they would convert these purchases of treasuries in to an open-ended purchase program. so that would mean starting next year, the fed is add to go the balance sheet at a rate of about 85 billion a month and we would agree we think the fed will buy throughout 2013 and purchases would amount to about $850 billion or so over the course of the year. >> if we were
. a real developing story and a scary one coming out of the middle east. tell me how you see things, john, for oil. >> we're going to continue to go higher, maria. this looks like it's the start of something. this was the first move by the israelis. took out two senior hamas leaders. they said this is going to be a multiweek exercise. when you're talking about hamas, you're really talking about iran's proxy state, iran's proxy army. so the fingerprints are all over it. the door is going to be wide open for a spillover even further into iran. make trouble in bahrain, make trouble in saudi arabia. it's really going to be on the rise here the next couple weeks. >> new york oil is up 86 cents. am i wrong to believe it should be up more if this is that big of a deal? >> yes, bill. we would be down but for this episode today with the rest of the markets clearly. the outlook for oil demand next year keeps gets worse and worse as the economy looks to decline globally, particularly in china and japan. the fact we're up at all in the face of a 126-point down dow speaks a lot to the nervousness of t
." john in washington. >> caller: boo-yah from the great columbia gorge in the state of washington! >> many callers from washington and i'm always happy to hear that. what's going on? >> caller: well, i think you're very interesting and entertaining and i like it! but i'm more interested in magnum hunter. mhr. >> this is a real speculative stock, and you need to see oil at $100 a barrel, not 80 and change. and that's why the stock is -- >> don't buy. >> unless you want to speculate. let's go to bob in virginia. bob! >> caller: jim, how are you? >> all right. how about you, bob? >> caller: pretty good. my stock is mine safety appliances. symbol msa. >> you know, bob, to tell you the truth, i haven't looked at mine safety appliances in ages because there's been such a decline in mining. i've got to come back with a fresh look at that. i cannot opine on something i have not looked at lately. let's go to raul in wyoming. raul. >> caller: how are you doing, jim? all right. how about you? >> caller: i was looking at invensense. >> two in a row. we've got some real homework to do. louis i
their decision to let the bush tax cuts on high income earners expire. what we heard from john boehner, the house speaker earlier this week, sort of conflicting remarks on whether p ares would be open to tax increases. the day after the election, he said that revenue increases might be a possibility, but then in interview yesterday, he said basically we're not open to tax increases. so it will be interesting to see how much of a focus the president puts on the issue of revenue increases in his remarks today. >> what impact has the election had on the hard liner republicans? has it made them more malleable? >> it certainly looks like it has early on here. the tone in washington is we lost the election, mitt romney did not win, the american people have spoken. we have to work with this president the next four years and that's different than what we've seen the last year and a half which is we want to do everything we can to make this president a one term president. now that that's not going to happen, republicans don't have much choice, they have to work with this president and the tone here is ver
'll play their hand i think to their full advantage. >> what kind of hand does john boehner have? where sg it leave him and his ability to control the tea party wing? >> it actually puts skron boehner in a good position because during the debt ceiling talks last year, he had a lot of push back from the very far right of his party in the house. the tea party caucus, for example. this time around we won't see the same dynamic at all because the tea party caucus and far right have lost a lot of political capital in light of the election. so what we've already seen is speaker boehner talking to republicans in the house, putting his foot down early and saying we're not going to have that same push back we saw. instead, i'm going to tell you what we're going to do and what this deal is going to look like and you'll fall into line. >> he got criticism because he negotiated a deal and then went back and tried to sell to the party. does he naed to do he need to d way around, get a set position and then go into discussions? >> i think that is the thinking this time around. and he has certainly recog
, the laundry list we have talked about. to the upside, though, we have two olive branches. harry reid and john boen we are the olive branches to each other and maybe seemingly willing to talk and maybe risk to the upside in terms of a bargain being struck. when's the risk? >> i think that's the big uncertainty. the optimist in me love they come together and have a good deal for everybody concerned and we move forward. the pessimist says i heard nothing different yesterday despite the press conferences. and neither side really has a mandate to impose their will on the other. and in fact, i see very little difference as i'm sitting here today versus where we sat on monday and so there's very significant reasons why there could not be a deal. we hope there is but the devil's in the details. what kind of a deal will we strike? the one the markets like and going to be effective for long-term growth is going to be the one with true reform. whether it's regulatory reform, tax reform, reduction in marginal rates and exchange for getting rid of some deductions. i think that's a good plan but did devil'
of the white house at 1:05 eastern time. you can of course catch all of it right here on cnbc. john boehner is also scheduled to hold a you news conference today, as well. st. louis fed president james bullard is saying the u.s. economy is strengthening. but he's cautioning that leaders must tackle the looming fiscal cliff. a conversation we can't get away from. speaking in missouri yesterday, bullard also says he doubts the central bank will extend a bond maturity extension program that expires at the end of the year. bullard is not currently a voting member, but he will ebb in 2013. and china's national congress continues with new leaders for the communist party set to be named later this morning. today a rising star said the party is moving towards requiring officials to their their assets. so an interesting piece in the chinese business press this morning. >> we have been talking about the fiscal cliff and -- >> we have? >> and yesterday somebody tweeted a new drinking game. every time they say fiscal cliff, you drink. they're right, but it's absolutely what matters. >> look at the stoc
. >>> seconds away, breaking news. are the president and house speaker john boehner working on a fiscal cliff deal? there is some new movement. stocks themselves are spanking politicians to make a deal and avoid recession, the dow down over 4 hundr00 points since the election. and why are liberals trying to legalize pot? is this really what this country needs? the kudlow report is moments away. >> it's not all done in foul weather. after the
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